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| Committee on Finance and Budget (Vietnam) | |
|---|---|
| Name | Committee on Finance and Budget |
| Native name | Ủy ban Tài chính - Ngân sách |
| Legislature | National Assembly of Vietnam |
| Type | Parliamentary committee |
| Jurisdiction | Vietnam |
| Headquarters | Hanoi |
Committee on Finance and Budget (Vietnam)
The Committee on Finance and Budget is a specialized standing committee of the National Assembly (Vietnam), functioning within the legislative framework established after the Constituent Assembly election, 1946 and evolving through the Vietnam War and post-Đổi Mới reforms. It operates alongside other committees such as the Committee for Judicial Affairs (Vietnam), the Committee for Social Affairs (Vietnam), and the Committee on Science, Technology and Environment (Vietnam), advising on matters related to state revenue, public expenditure, and fiscal policy implementation linked to the State Bank of Vietnam, the Ministry of Finance (Vietnam), and the Government of Vietnam.
The committee is constituted under the rules of procedure of the National Assembly (Vietnam) and mirrors standing committees in legislatures like the Standing Committee of the National People's Congress and the United States House Committee on Ways and Means in its focus on budgetary scrutiny. Its remit touches instruments produced by the Ministry of Planning and Investment (Vietnam), audits by the State Audit of Vietnam, and fiscal frameworks anchored in laws such as the Law on State Budget (Vietnam). The committee convenes in Hanoi at the National Assembly Building and reports to plenary sessions of the National Assembly of Vietnam.
The committee examines draft laws, resolutions, and policy proposals tied to taxation, public debt, and budgetary allocations emanating from ministries like the Ministry of Finance (Vietnam), state-owned enterprises such as Vietnam Oil and Gas Group (PetroVietnam), and agencies including the State Bank of Vietnam. It reviews the annual state budget bill, evaluates implementation of previous budgets, and assesses financial impacts of legislation including the Law on Public Investment (Vietnam). The committee liaises with oversight bodies like the Government Inspectorate of Vietnam and the State Audit of Vietnam when scrutinizing final accounts and audit reports.
Membership is drawn from deputies elected to the National Assembly (Vietnam), often including representatives from major parties such as the Communist Party of Vietnam, affiliated groups like the Vietnam Fatherland Front, and regional delegations from provinces including Hanoi, Ho Chi Minh City, and Nghe An Province. Leadership typically comprises a chairperson and deputy chairs elected at the opening session, with past leaders having had careers in institutions such as the Ministry of Finance (Vietnam), the State Bank of Vietnam, or provincial People's Committees like Hanoi People's Committee. Committees coordinate with parliamentary caucuses, factions active since the post-Đổi Mới period, and international counterparts like committees in the European Parliament.
In the legislative process, the committee prepares reports for plenary consideration of major fiscal bills, proposes amendments to draft laws, and drafts resolutions on budgetary matters similarly to the Budget Committee (United Kingdom House of Commons). It organizes hearings with ministers from the Ministry of Finance (Vietnam), governors of the State Bank of Vietnam, and CEOs of state groups like Vietnam Electricity (EVN), enabling evidence-based deliberation informed by data from the General Statistics Office of Vietnam. The committee’s recommendations influence passage of laws including revisions to the Law on Tax Administration (Vietnam) and measures addressing public debt linked to projects such as the North–South Expressway (Vietnam).
The committee holds consultative sessions and formal reviews with the Government of Vietnam, coordinating fiscal policy oversight with the Prime Minister of Vietnam and relevant ministries including the Ministry of Planning and Investment (Vietnam). It summons officials from agencies such as the State Audit of Vietnam, the Government Inspectorate, and state-owned conglomerates to explain budget execution, public investment performance, and debt management tied to development projects like the Can Tho Bridge. International engagement occurs through cooperation with bodies such as the World Bank, the International Monetary Fund, and bilateral partners including the Japan International Cooperation Agency on budget support and public financial management reforms.
Origins trace to post-independence parliamentary structures and were reshaped after the reunification of 1975 and the Đổi Mới economic reforms initiated in 1986, which led to modern fiscal institutions including the Ministry of Finance (Vietnam) and the State Bank of Vietnam. The committee’s role expanded during the 1990s and 2000s amid fiscal modernization, oversight of state-owned enterprise restructuring involving firms like Vietnam Airlines and Viettel, and responses to crises such as the Asian Financial Crisis and global financial shocks of 2008. Legislative reforms, including amendments to the Law on State Budget (Vietnam), have periodically redefined its mandate.
Noteworthy outputs include reviews of annual state budget implementation, assessments of public debt levels leading to policy adjustments in coordination with the Prime Minister of Vietnam, and investigative reports on high-profile projects involving state groups such as PetroVietnam and Vietnam Oil and Gas Group. The committee produced influential recommendations during deliberations on stimulus measures tied to the COVID-19 pandemic in Vietnam and on fiscal measures to support infrastructure schemes like the Long Thanh International Airport. Its reports frequently cite data from the General Statistics Office of Vietnam, audit findings from the State Audit of Vietnam, and policy guidance from international agencies including the World Bank and International Monetary Fund.
Category:National Assembly (Vietnam) Category:Parliamentary committees